Rise Above Accounting

10/16/2026

Social Security Benefits Rise 3.6% for 2027

The Social Security Administration (SSA) announced a 3.6% cost of living adjustment (COLA) for 2027. Nearly 72 million Social Security beneficiaries, including those receiving retirement, survivors and disability, will see the increase starting in January. The average retirement benefits will increase by $75 per month. Those who sign up for paperless notices by Nov. 18 can view their COLA notice in their my Social Security account in late November.

This is a good time to check in with retired clients. The §86 base amounts aren’t indexed for inflation, so a larger check can make more of their benefits taxable. Clients can adjust withholding using Form W-4V, Voluntary Withholding Request. See SSA COLA page for details.

10/15/2026

Extension filers: October 15 is here. Time is running out to get your extension return filed. There are still plenty of free resources to help answer your questions and file your return electronically.

Get started at www.irs.gov/filing.

08/09/2026

https://ncidea.org/press-release/nc-idea-receives-historic-10-million-in-funding-from-the-golden-leaf-foundation-to-strengthen-rural-entrepreneurship-across-north-carolina/

The Rural Entrepreneurship Regional Constellations Program Will Directly Fund Rural Regions and the Entrepreneurs Building Their Economies DURHAM, NC — August 6, 2026 — NC IDEA, a private foundation committed to supporting entrepreneurial ambition and economic empowerment in North Carolina, anno...

07/21/2026

IRS Updates Standard Mileage Rates Effective July 1

The IRS has announced revised standard mileage rates for the second half of 2026 in response to recent increases in fuel prices. Under Announcement 2026-11, the business mileage rate increases to 76 cents per mile from 72.5 cents. The rate for medical and moving expenses increases to 23.5 cents per mile, while the rate for charitable miles remains unchanged at 14 cents per mile. The updated rates apply to deductible transportation expenses paid or incurred on or after July 1, 2026. The revised rates also apply to mileage allowances paid to employees on or after July 1, 2026, for transportation expenses incurred on or after that date.

Note for expenses incurred before July 1, 2026, the mileage rates established in IRS Notice 2026-10 remain in effect.

05/23/2026

04/27/2026

The IRS announced a new online tool to help clients understand and resolve tax debt.

The Tax Debt Help tool provides individuals and businesses with a simple way to explore payment options and identify next steps based on their situation. It walks users through a series of straightforward questions about their financial situation and tax debt. Based on responses, the tool will guide users to potential payment and resolution options available through the IRS.

The tool does not require specialized knowledge. It can be used at any time. To protect client privacy, the tool does not require users to enter personally identifiable information.

https://outlook.office.com/mail/inbox/id/AAQkAGMyODQ0ZDI1LTgzMDAtNGEyYi05MjFhLWYzMDc1N2ZjZGYyOQAQAGXeUN3oO8FAhXTZDTS9TbU%3D?nativeVersion=1.2026.420.300